Press Release

LE BOURGET, France--(BUSINESS WIRE)--Jun. 18, 2019--
L3 Technologies (NYSE:LLL) announced today that it has signed a joint
venture agreement with Saudi Arabian Military Industries (SAMI) to
collaborate on electro-optical and infrared (EO/IR) and special mission
systems projects within the Kingdom of Saudi Arabia (KSA). The contract
was signed on June 18 in the SAMI Chalet during the Paris Air Show.

In February 2019, L3 and SAMI announced the signing of a Memorandum of
Understanding (MoU) relating to the joint venture.

“Through this partnership, L3 will further establish a long-term
presence within the KSA,” said Christopher E. Kubasik, L3’s Chairman,
Chief Executive Officer and President. “This venture with SAMI, which
includes research and development, manufacturing, training and
sustainment activities, represents a key milestone in the further
development and execution of L3’s international growth strategy.”

“We are pleased to partner with L3 as we move towards our goal of
creating a Center of Excellence in the Kingdom,” said H.E. Ahmed
Al-Khateeb, Chairman of SAMI. “As we continue to support objectives tied
to Saudi Vision 2030, this long-term partnership with L3 will help grow
the sensor and mission systems industry while creating a comprehensive
through-life support structure for our military customers.”

L3 Technologies designs and manufactures industry-leading multi-spectral
and multi-sensor EO/IR imaging and targeting sensor systems in addition
to fully customizable mission systems for air, land and maritime
vessels. Together, L3 and SAMI will indigenously design and implement
these advanced technologies and solutions for a variety of
customer-specific applications from a Center of Excellence that will be
established in the Kingdom.

About L3 Technologies

With headquarters in New York City and approximately 31,000 employees
worldwide, L3 develops advanced defense technologies and commercial
solutions in pilot training, aviation security, night vision and EO/IR,
weapons, maritime systems and space. The company reported 2018 sales of
$10.2 billion.

To learn more about L3, please visit the company’s website at www.L3T.com.
L3 uses its website as a channel of distribution of material company
information. Financial and other material information regarding L3 is
routinely posted on the company’s website and is readily accessible.

About Saudi Arabian Military Industries

Launched in May 2017, Saudi Arabian Military Industries (SAMI) is a
state-owned military industries company working under the directives
outlined in the Saudi Vision 2030. Aiming to be among the top 25
military industries companies in the world by 2030, SAMI is expected to
play a key role in localizing 50% of the Kingdom’s total government
military spending. SAMI is combining the latest technologies and the
best national talent to develop military products and services at par
with international standards across four business divisions –
Aeronautics, Land Systems, Weapons and Missiles, and Defense
Electronics. For more information, visit www.sami.com.sa
or e-mail us at info@sami.com.sa.

Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995Except for historical information contained herein,
the matters set forth in this news release are forward-looking
statements. Statements that are predictive in nature, that depend upon
or refer to events or conditions or that include words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,”
“will,” “could” and similar expressions are forward-looking statements.
The forward-looking statements set forth above involve a number of risks
and uncertainties that could cause actual results to differ materially
from any such statement, including the risks and uncertainties discussed
in the company’s Safe Harbor Compliance Statement for Forward-Looking
Statements included in the company’s recent filings, including Forms
10-K and 10-Q, with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.